1201 E 59Th Place

Los Angeles, CA 90001

$3,795,000

List Price

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bed Beds

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shower Baths

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straighten / sqft

2024

calendar_month Built

Property Description

Pre CofO sale for OPPORTUNITY ZONE Investors! New modern 8 unit apartment building in the final stages of construction in the desired part of Los Angeles, bordered line with Huntington Park and only 7 miles from DTLA! This complex is close to major transits. Only couple blocks from the Blue Line Station that has quick access to get to Downtown LA and Downtown Long Beach (76 Walk Score). This property is perfect investors who are LOOKING IN OPPORTUNITY ZONES! Yes that right, this property is located in an OZ. Investors get to enjoy a nice cash flow off this home with of a pro-forma of $309,360 in gross annual rents. Property has total of 20 bedrooms and 16 baths. All buildings offer a 3 bedroom, 2 bath (4 units 3/2) and a 2 bedroom, 2 bath (4 units 2/2). This apartment complex has all the modern touches in today’s market such as laminate flooring, recessed lighting, quarts countertops on kitchen, central AC, washroom, PAID OFF solar systems, and very low expenses as all units have separate utilities including water meters. This complex was design for you as the new owner to guarantee long terms tenants. This one spacious 11,200 lot size accommodates parking for all tenants. Property offers 12 car garage and about 7 open parking spaces. This is a big incentive for the tenants, however, if you are a value added type of investor; why not turn this property into 12 units by making 4 ADUS? (buyer to verify with city). Near retailers include Mc Donalds, Chase, Starbucks, CVS Pharmacy, Citi Bank, North Gate Market, Wing Stop, Panda Express (all walking distance) and many more. This by far one of the best properties in the Florence-Graham district, check it out before is gone!

Listing Information

List Price $3,795,000
Status Active
MLS DW24217006
Type Commercial
Subtype Multi Family
Year Built 2024
Lot Size 11,200
Structure Size N/A
Courtesy Of VIP Real Estate Firm
Listing Agent Daniel Terrazas DRE#02019893
Co-Listing Agent Rafael Alvarado DRE#02094533

Interior Features

Laundry Information
Location(s) Laundry Room
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Daniel Terrazas, Rafael Alvarado, VIP Real Estate Firm 562-231-3333. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 19th, 2024 at 12:51 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.